Latvia’s national airline airBaltic paid its new Chief Executive Officer, Erno Hilden, €57,211 in remuneration in December last year, approximately 18% less than the average monthly salary received by former CEO Martin Gauss, according to calculations by the LETA news agency based on Hilden’s 2025 public asset declaration.
Hilden joined the airline on 1 December 2025, receiving €57,211 in remuneration for that month.
By comparison, Gauss received a total of €838,568 from airBaltic in 2024, equivalent to an average monthly income of approximately €69,881, according to his 2024 public asset declaration.
The exact amount of Hilden’s annual remuneration will become known after he submits his declaration for 2026.
Speaking to LETA, airBaltic Supervisory Board Chairman Andrejs Martinovs said Hilden was appointed without a probation period and receives a fixed salary. He noted that the amount declared as income may differ from the monthly salary because reimbursed expenses, such as accommodation costs, may also be included in declared income.
Martinovs added that the airline’s new CEO was selected through an international recruitment process that attracted more than 40 candidates from several countries. According to him, finalists stated their salary expectations during the final stage of the competition, making the agreed remuneration objective and consistent with airBaltic’s current situation, the responsibilities of the position and international market standards.
He also stressed that the remuneration reflects the conditions of the recruitment process, the airline’s operations and the level of responsibility and risk associated with leading the company.
Hilden’s asset declaration shows that, at the end of 2025, he held total bank savings of €393,426. These included €111,012 in Bank Pirkanmaa in Finland and SEK 3,056,141 (approximately €282,414) in Sweden’s SEB Bank.
His outstanding liabilities totalled €458,954 at the end of the year.
He had also issued two private loans exceeding the reporting threshold, amounting to €140,000 and €54,000, respectively.
In addition, Hilden declared financial instruments worth €365,049, including investments in private pension funds and life insurance savings products.
His property portfolio included one building in Tampere, Finland, and joint ownership of two properties located in Tuusula and Kangasala. He also rented an apartment in Riga.
At the end of 2025, Hilden owned three cars, including BMW models manufactured in 2017 and 2024, as well as a 2017 Chevrolet. He also owned a 2018 Honda motorcycle, a 2022 Harley-Davidson motorcycle, a 2022 BRP Can-Am quad bike, a 2019 Marino boat and a 2024 Sea-Doo personal watercraft.
The declaration also states that Hilden serves as a board member of two Finnish companies, Hilden Invest and Habitus Hilden.
As previously reported by LETA, Hilden officially assumed the position of airBaltic CEO on 1 December 2025.
Former CEO Martin Gauss, who had led the airline since 1 November 2011, was dismissed by the airline’s supervisory board on 7 April 2025.
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